PRESS RELEASE—The Aspen Trust Group was recently named by the Washington Times in a news article as a leader among corporate service providers with an eye for the “unrealized” potential of Cyprus as the next big film production destination. The international film production incentives offered by the Cypriot government provide huge financial advantages for film production companies, over and above other benefits such as the island’s proximity to Europe, Asia, and Africa and their diverse culture, and the continually sunny weather perfect for shooting year-round.
Ms. Marina Zevedeou, CEO of the Aspen Trust Group, envisions Cyprus and the talents of Hollywood working closely together as growing regulations and compliance standards make the jurisdiction very attractive for doing business.
Cyprus is also an ideal location for the establishment of IP holding companies as the country’s IP Box Regime provides an 80% deduction of revenue earned from the use of intangible assets. The rest is taxed at a corporate tax rate of 12.5%, one of the lowest in Europe. Cyprus-resident companies can enjoy an effective tax rate as low as 2.5%.
“We have come to appreciate that the U.S., comprising of an amalgamation of cultures and peoples, has created a unique combination of business skills and attitudes, making it one of the best places to work with. Our Group works hand-in-hand with clients to assist them reach their highest potential while ensuring full compliance and high-quality service” Zevedeou said in the article.
Distinguishing the company apart from its competitors, the Aspen Trust Group specializes in international tax management solutions for both corporations and high net worth individuals as well as providing services for IP rights and international film production incentives. The team can not only advise, set up, and manage entities applying for incentives, but also prepare all necessary reports to qualify for the incentives.
Ms. Marina Zevedeou and the Aspen Trust Group professionals are excited about the development of new opportunities in Cyprus to work in partnership with U.S. companies interested in doing business in the jurisdiction. Cyprus is well on its way to becoming a prominent business and investment hub with its many international film production incentives and the other business advantages offered by the government, with the Aspen Trust Group directing the expansion of services for this industry.
Contact the Aspen Trust Group for a consultation on services and international film production incentives available for your project and the wide range of benefits of Cyprus as a filming jurisdiction.